Space Coast Credit Union surpasses $1 billion in auto sales in 2016
MELBOURNE, FL (March 9, 2017) — Space Coast Credit Union, Florida’s third-largest credit union, recently announced record-breaking production figures for 2016, delivering over $1 billion in auto lending for the first time in its 65-year history.
The credit union projects these lending totals equate to approximately $25 million saved for its members.
“This production represents true value for our member-owners,” President and CEO Doug Samuels said. “A billion dollars in auto lending was not a goal that we set out to achieve in 2016. However, we continued to experience demand for vehicle loans, and our employees stepped up and met the needs of our members, while also ensuring the memberships’ interests were protected.”
Offering competitive auto loan rates as low as 1.89% APR* and financing thousands of vehicles each month, consumers trust SCCU as lending experts who also watch out for them in all aspects of their financial lives. This, coupled with the ease and convenience of applying and getting pre-approved for an auto loan in minutes online, over the phone or at the dealership, has led the credit union to becoming the top auto lender in Brevard County while continually increasing its market share in the 13 other counties it serves.
In addition to helping members purchase new vehicles in 2016, SCCU also refinanced over $177 million in auto loans, in many cases lowering members’ interest rates by significant amounts. Similar to the credit union’s pre-approval process, SCCU makes it easy and convenient to refinance an auto loan from other lenders, making it possible to pay less per month while keeping the same vehicle.
SCCU collects and publishes uncensored reviews for all of its products on SCCU.com, including Pre-Approved Auto Loans (currently 4.73 stars out of 5) and Auto Loan Refinancing (4.83 stars out of 5). Only members who have used a product or service are surveyed for their feedback, ensuring those who visit the website receive authentic information to help make the most informed buying decisions available.
About Space Coast Credit Union
Space Coast Credit Union (SCCU) is state chartered with headquarters in Melbourne, Fla. since 1951. With over $7.7 billion in assets, SCCU serves more than 560,000 members in 34 counties, with 65 branches along Florida’s east coast. The Credit Union offers competitive rates on auto and home loans and credit cards as well as free checking and savings accounts. SCCU provides a service delivery network featuring nationwide ATMs, member service call centers, 24/7 online access and secure mobile banking. The Credit Union is committed to providing comprehensive financial protection to its members with cost-effective, convenient products and services. SCCU creates value in cooperative ownership through honest people, trusted products and time valued. For more information, visit SCCU.com.
